Looking to invest in property on Ocean Parade in Coffs Harbour

Ocean Parade, Coffs Harbour is running hot!

Running parallel to Park Beach, playing host to cafes, clubs and the world famous Hoey-Moey, walking distance to Northside and Park Beach Plaza and with a range of accommodation options, Ocean Parade is proving itself to be quite the little hotspot of late.

SMSF’s are loving the entry level pricing in the $400K bracket: investors love the location for consistent permanent or high demand holiday rentals; and down-sizers are loving it for the easy coastal lifestyle.

Whether you are investing or looking for a place of your own, there is definitely something for everyone along Ocean Parade. And you know,  if Ocean Parade is firing up, it means those nearby streets, like York, Brunswick and Park Beach Rd, are just a likely to pick up momentum.

If you’re in the market for a unit in that area, here’s a few things to know before you go:

• Strata fees – will have an extra impact on your borrowing power with around 80% of lenders
• Unit size – always important – aim for at least 40 sqm of living space
• Due diligence on the body corporate is a must – make sure there are no major expenses just around the corner – think cladding upgrades, window upgrades and wear and tear
• If you’re renting it out, engage a professional property manager
• Air BnB often takes more work and involves higher risk than you think – it’s often better to holiday let through a professional agency
• Pet ownership – if you’re owner occupying and Socks has to come with you, make sure the strata by laws welcome your furry, finned or feathered friend
• And, lastly – how do you make it happen? Lets check your capacity and build a path to owning your little patch of Ocean Parade

As Coffs Harbour Mortgage Brokers, we know how to find the best loan for you.